Swedish broker Foxway has acquired the Danish market leader in remarketing of new and circular IT equipment, Dansk Computer Center A/S (“DCC”) for an undisclosed amount. The transaction is an important step in Foxway’s strategy to become the leading specialist in circular IT solutions in Europe.
Foxway has expanded quickly over the recent years and is today one of the largest specialists in IT lifecycle management in Europe. Foxway has an annual turnover of approx. €385m and employs more than 900 people, located in 7 countries.
DCC is one of Europe’s largest distributors of circular IT products. DCC has an annual turnover of €96.27m and employs more than 100 people in Denmark, Sweden, Germany, Spain and Latvia. With DCC´s headquarters in Hinnerup, Aarhus in Denmark, Foxway strengthens its position in Europe, and especially in Denmark, within recycling, repair and sourcing of IT products.
"We are very delighted to welcome DCC to the Foxway Group. DCC will provide us with a solid base in Europe from which to grow our strong offering within circular IT solutions for both end customers and partners. The Danish market is a great location to evolve our existing business and to reach out to the rest of Europe", says Martin Backman, Chief Executive Officer of Foxway Group.
The demand for sustainable computers and laptops is believed to increase significantly in the coming years. Growing environmental awareness fosters a new consumption model with multiple opportunities for companies such as Foxway to expand its market presence. IT asset disposition (ITAD) and IT Asset Management (ITAM) are the key enablers behind IT hardware sustainability, and Foxway has an important role to play.
"The team and I are looking forward to becoming a part of the Foxway Group. Together we represent a strong force within sustainable IT and the mission DCC set out for in 1995 will be continued on an even broader scale. All partners, clients and customers will continue to be provided with best-in-class products and solutions from an even broader suite of services. This new chapter represents a turning point not only for the joint company but for the industry", says Kent H. Jeppesen, Managing Director at DCC.
The transaction is subject to customary merger control approval and is expected to be completed during Q1 2022.